GERA Developments rated AA (-) by CARE Ratings Emerges as the “Highest Credit Rated Private Developer” in India

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Pune: March 4, 2019: GERA Developments Pvt. Ltd. with its legacy of 48 years in the real estate business, pioneers of the real estate business and the award-winning creators of premium residential and commercial projects in Pune, Goa and Bengaluru has been by CARE Ratings, has been assigned as the “Highest Rated Private Developer” in India and is amongst the top 7 companies in the AA (-) and above categories in pan India. Also, the company is the only developer from the private sector to be in AA (-) and above categories alongside its peers from the public space domain.

While commenting on the highest ratings, Mr. Rohit Gera, Managing Director, Gera Developments said, “It’s indeed a proud moment for the company. All our hard work is paying off. This rating is a true reflection of our ethos and belief in the strong value system and fiscal discipline, that[SM1] we have been following over last four decades. The CARE ratings bring to fore Gera’s high credibility, equivalent to that of the other reputed, giant players listed therein. It highlights our consistent outperformance in the real estate sector and the company’s capability to stand amongst the best in the industry. It’s imperative to note that the rating is opportune for the company especially when the real sector is going through a turmoil and it most definitely demonstrates the financial prudence and stability.”

Mr. Gera further added that “Being the highest rated private developer in India opens up many possibilities for us and further strengthens our expansion plans. Easy access to funds at lower rate and better yields will have overall positive impact and benefit our customers tremendously. The ratings, great places to work recognition and several national & international awards for our landmark projects are truly signs of reputed developers sustaining in the long run.”

CARE Ratings only shows the faith and trust vested in the company by its various stakeholders [SM2] like Banks, FIs and other lenders in the market which Gera Developments has rightfully earned through transparency and governance by the promoters and key management. Given the current volatility in the market, financial judiciousness by the company is of utmost importance, and Gera Developments with its 48 years of lineage has successfully earned the reputation, among its customers.